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What to do with all my money????

What to do with all my money????

Old May 10th 2004, 12:57 am
  #1  
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Question What to do with all my money????

I might sound a bit dim here but when we came back a couple of months ago from Oz all our money came with us in the form of a bankers draft.

Because the rate then was higher than we wished, we didnt do anything with it

Now the flippin rate is even higher and I dont have a clue what we should do!!! My head hurts just thinking about it. Anyone got any advice? Please dont shout!

Angelica
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Old May 10th 2004, 6:06 am
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Send them to me, and i'll invest it for for you Just kidding....why don't you take out some kind of TESSA account, or some other account that will yield you a bit of interest in the mean time?
 
Old May 10th 2004, 6:26 am
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Default Re: What to do with all my money????

the rate has been excellent over the past few months for returnees - 2.32 was about the besr i think and now back to 2.55.

rates can make a huge difference but it depends on how much cash we are talking about.

the current rate is only gbp 150 worse on $5000 oz or gbp 3500 on $100,000 oz so whilst it is disappointing to have missed the recent peak it is far from a big deal.

i think when rates move this quickly they often peak and then come off and rebase so maybe wait another week and then if the rate is 2.50 ish take the draft to the bank and get it banked. hopefully it is drawn on a uk bank so you can get the funds quickly - if it is drawn in oz they will probably collect it so will take a few weeks to get the cash.

we opened an ing internet savings account which pays a good rate and you can get the money whenever you want. better you earn the interest than an aussie bank.


Originally posted by angelica
I might sound a bit dim here but when we came back a couple of months ago from Oz all our money came with us in the form of a bankers draft.

Because the rate then was higher than we wished, we didnt do anything with it

Now the flippin rate is even higher and I dont have a clue what we should do!!! My head hurts just thinking about it. Anyone got any advice? Please dont shout!

Angelica

Last edited by dugongs; May 10th 2004 at 6:29 am.
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Old May 10th 2004, 7:57 am
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Default Re: What to do with all my money????

Originally posted by dugongs
the rate has been excellent over the past few months for returnees - 2.32 was about the besr i think and now back to 2.55.

rates can make a huge difference but it depends on how much cash we are talking about.

the current rate is only gbp 150 worse on $5000 oz or gbp 3500 on $100,000 oz so whilst it is disappointing to have missed the recent peak it is far from a big deal.

i think when rates move this quickly they often peak and then come off and rebase so maybe wait another week and then if the rate is 2.50 ish take the draft to the bank and get it banked. hopefully it is drawn on a uk bank so you can get the funds quickly - if it is drawn in oz they will probably collect it so will take a few weeks to get the cash.

we opened an ing internet savings account which pays a good rate and you can get the money whenever you want. better you earn the interest than an aussie bank.
We will do something in the next week or two & chuck it all in an ISA. Just a bit peeved that we are losing money on the exchange rate. Mind you we already spent a fortune to-ing & fro-ing so whats another grand??!! Thanks for replies.
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Old May 10th 2004, 7:53 pm
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Default Re: What to do with all my money????

what are house prices doing
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